Market Overview: EURUSD Forex The market formed a weekly EURUSD 5-bar bull microchannel from the November 21 low. If the market trades lower, bulls want the 20-week EMA to act as support, followed by at least a small sideways-to-up leg to retest the December 16 high. Bears view the current bounce (Dec 16) as a […]
Weekly EURUSD Bulls Need More Follow-through Buying
Market Overview: EURUSD Forex The weekly EURUSD bulls need more follow-through buying to increase the odds of trend resumption. Bulls expect the 20-week EMA and the November low to act as support, forming a large double bottom bull flag (Aug 1, Nov 5) and a wedge bull flag (Sep 25, Oct 9, Nov 5). Bears […]
EURUSD Broke Above the Bear Trendline
Market Overview: EURUSD Forex The EURUSD broke above the bear trendline this week. Bulls now need additional follow-through buying, trading clearly above the 20-week EMA and the bear trendline, to raise the odds of trend resumption. Bears see the current pullback (bounce) as forming a double top bear flag (Nov 13 and Dec 4) and […]
Limited Follow-Through Selling on the EURUSD Monthly Chart
Market Overview: EURUSD Forex There was limited follow-through selling on the EURUSD monthly chart in November. Bulls want the August low to act as support, forming a double bottom bull flag (Aug 1 and Nov 5). Bears see November as a pullback and hope to get at least a small second leg sideways to down. […]
Weekly EURUSD Bear Leg in a Trading Range
Market Overview: EURUSD Forex The market formed a weekly EURUSD bear leg in a trading range. Bulls want the 20-week EMA and the August low area to act as support, forming a large double bottom bull flag (Aug 1 and Nov 5) and a wedge bull flag (Sep 25, Oct 9, Nov 5). Bears need […]
Weekly EURUSD Wedge Bull Flag
Market Overview: EURUSD Forex The market is forming a weekly EURUSD wedge bull flag within a trading range. The bulls want the 20-week EMA and the August low area to act as support, forming a large double bottom bull flag (Aug 1 and Nov 5). If the market trades higher, bears want it to form […]
EURUSD Bear Leg in a Trading Range
Market Overview: EURUSD Forex The market is forming a EURUSD bear leg in a trading range on the weekly chart. Bulls see a wedge bull flag (Sep 25, Oct 9, Nov 5) forming and want a strong break above the bear microchannel to resume the trend. If the market trades higher, bears want it to […]
EURUSD Major Lower High
Market Overview: EURUSD Forex The market is forming a EURUSD major lower high on the monthly chart relative to the January 2021 high. The bears want a reversal from a wedge top (April 21, July 1, and September 17). The bulls see the current move as a pullback in a developing bull trend and want […]
EURUSD Pullback Is Stalling
Market Overview: EURUSD Forex The EURUSD pullback is stalling above the 20-week EMA currently. The bears need consecutive bear bars closing near their lows, breaking decisively below the 20-week EMA and the August 1 low, to increase the odds of a reversal. The bulls want the 20-week EMA to act as support, which it has […]
Weekly EURUSD Double Bottom Bull Flag
Market Overview: EURUSD Forex The marker formed a weekly EURUSD double bottom bull flag around the 20-week EMA. The bulls see the current move as a pullback and want it to be weak and sideways. They want the 20-week EMA or the August 1 low to act as support. The bears must create consecutive bear […]
